It has been reported that the Philippine government pledged to lend $1 billion to the International Monetary Fund (IMF) to raise the international organization’s crisis fun.
This news, of course drew flak from different sectors, including the Congress. The Aquino administration defended its decision by saying that the Philippines will also benefit from this action because of the interest that the lending entails.
(Read full report here.)
The Philippines, so to say, is investing its $1 billion in hopes of earning based from the interest. What the government wants to say is that it is a good INVESTMENT.
Now, what can $1,000,000,000 do to our country?
- INVEST in education. While this does not ensure monetary interests compared to lending the money to IMF, it sure does increase the qualifications of Filipinos to secure better jobs, thus giving them better earnings, and thus giving the country more money through their taxes.
The education system is constantly facing budget cuts year in, year out. With this move, tuition and other fees continue to increase at the expense of the students and their parents.
Their are only four universities — UP, Ateneo, La Salle and UST — usually included in the list of top schools in the world. UP is the only state university in the list. Because of the continuous budget cuts, the academic standards and quality of the state universities are on a standstill.
- INVEST in healthcare. Public hospitals are in dire need of equipment upgrades. Nurses, doctors, and other medical staff are severely underpaid and overworked. People still line up for help from GMA Kapuso Foundation and ABS-CBN Foundation just to send their loved ones to the hospital.
If indeed the government is spending enough money for healthcare, these foundations will be out of business. But today, they are more reliable than, say, PhilHealth. Why? Because these foundations are handled by private entities. Rich, private entities.
It’s such a pain knowing that people from anywhere in the country need to travel all the way to Manila just to get the proper and better healthcare at the Philippine General Hospital (PGH). And do not get me started at the sad state of PGH compared to private hospitals.
- INVEST in the police. Maybe one reason why several police officers are corrupt is that their salaries barely increase. I cannot imaging how hard and dangerous their jobs are and I think it is just fitting to compensate them with higher salary. While this does not ensure the obliteration of corruption in the police system, I sure know that there are at least several of them who will think twice before engaging in corruption. (I am being ideal here.)
My point is, THE $1,000,000,000 CAN BE PUT TO BETTER USE.
Let’s stop with all this pa-pogi actions by the President and the government. There are far more pressing issues that need to be resolved.